The Wall Street Journal: Summer Youth Unemployment Rate Falls to Half-Century Low

According to a report from the Labor Department, the American youth unemployment rate it is the lowest it has been since July of 1966 at 9.1%. The Wall Street Journal reported that the labor market for young people seeking work is shifting, as more young people are looking to acquire real-world skills rather than easy cash.

Economists believe that the shift to a knowledge-based economy has driven high school students to pursue internships and taking summer courses in lieu of mowing lawns or slinging burgers.

Jesse Rothstein, an economist at the University of California, Berkeley stated, “We have a pretty strong labor market right now...most people who are looking for work are able to find it.

Among employers seeking young talent is fast casual concept MOOYAH Burgers, Fries and Shakes. Tony Darden, the franchise’s chief operating officer said the brand is actively seeking quality employees from the youth labor force. “We’re no longer in a situation where we can sit back and wait on applications coming in from people who want to work for us,” said Darden. “It’s a war for talent.” Read the full story here.